SOE Profits
Total profits of enterprises under direct regulation of the State-Owned Assets Supervision and Administration Commission (SASAC) of the State Council, commonly known as central state-owned enterprises (SOEs), reached 2.4 trillion yuan ($336 billion) in the January-November period, according to the commission.
During this period, fixed assets investment of the central SOEs, including real estate, expanded 9.1 percent year on year to 4.1 trillion yuan ($574 billion).
According to the SASAC, the central SOEs have increased spending on research and development (R&D) to boost innovation-driven development. In the first 11 months of 2023, their total R&D input topped 900 billion yuan ($126 billion), an
